Oppenheimer & Co. Inc. Reduces Position in SBA Communications Co. (NASDAQ:SBAC)

Oppenheimer & Co. Inc. reduced its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,224 shares of the technology company's stock after selling 2,029 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in SBA Communications were worth $5,752,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SBAC. Ashton Thomas Securities LLC purchased a new position in SBA Communications during the third quarter valued at $26,000. Evermay Wealth Management LLC bought a new stake in shares of SBA Communications in the fourth quarter worth $27,000. Capital Performance Advisors LLP purchased a new stake in SBA Communications during the third quarter valued at $35,000. Farther Finance Advisors LLC lifted its holdings in SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock valued at $52,000 after acquiring an additional 53 shares during the period. Finally, Oakworth Capital Inc. boosted its position in SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after purchasing an additional 144 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SBAC. Royal Bank of Canada reaffirmed an "outperform" rating and set a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. BMO Capital Markets reaffirmed a "market perform" rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Wells Fargo & Company increased their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. JMP Securities assumed coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an "outperform" rating and a $250.00 price objective for the company. Finally, Citizens Jmp raised SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, SBA Communications currently has an average rating of "Moderate Buy" and an average target price of $253.07.

SBA Communications Stock Down 0.3 %

NASDAQ SBAC traded down $0.72 during trading hours on Tuesday, reaching $220.79. The company's stock had a trading volume of 653,595 shares, compared to its average volume of 849,646. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The firm's 50-day moving average price is $204.17 and its 200-day moving average price is $220.47. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 0.74 and a beta of 0.69.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $1.11 per share. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.01%. SBA Communications's dividend payout ratio is currently 63.98%.

Insider Activity at SBA Communications

In other news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares of the company's stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares of the company's stock, valued at $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.